Business lines of credit are great funding instruments for businesses that are cash-strapped. They provide an infusion of funds or liquidity that the borrower can immediately put toward fulfilling their goals for their enterprise.
2 Main Types of Business Credit Lines
There are two kinds of business lines of credit: secured and unsecured. Some business owners favor unsecured loans as these do not require collateral. However in this scenario, the lender is taking the risk. Without assets to secure the loan, should the borrower default, then the lender has to resort to debt retrieval options. To obtain this funding for an unsecured business line of credit, we offer an easy process.. The firm must be well-established and the business owner’s credit history will doubtless be scrutinized as well. National Business Capital offers both secured and unsecured business credit lines with a quick and seamless process for each type of credit line.
Is a Secured Business Credit Line Right for You?
What are the funding options for firms that have not been in business for many years and whose owner(s) may have had credit issues in the past? Traditional lenders such as banks are not likely to extend credit or the funds will be released with numerous restrictions and repayment requirements. For many business owners, this is simply not a solution. When you choose NBC, we will assess your business requirements both at the present time and your long-term business goals. If you opt for a secured business line of credit, you may expect to use an asset as collateral to secure the loan. The benefit to this financial instrument if that you will likely receive lower interest rates, a higher spending limit and better terms that your business can readily pay. An additional benefit to a line of credit is that you only pay interest on the amount that you owe throughout the loan period.
Apply for a Secured or Unsecured Business LOC
Fill out this 1-minute form to get the business line of credit of your choice in as little as 24 hours, or call (877) 482-3008 today!
Get Help from Nationwide Leaders in Business Financing
National Business Capital is a nationwide leader in business financing that has helped business owners obtain hundreds of millions of dollars for our clients. We seek to establish long-term business relationships whereby our clients turn to us whenever they require additional funding for their businesses to continue to thrive. Secured business credit lines are but one of the many financing programs we offer.